Licence to Assign

The Licence to Assign a Commercial Lease specifies the requirements and procedures for transferring the lease, such as obtaining consent from the landlord and complying with any lease conditions. It is crucial in preventing unauthorised transfers and maintaining the rights and responsibilities of all parties involved. This document also provides clarity on the liabilities and obligations that the new tenant will assume upon the assignment of the lease.

By signing a Licence to Assign a Commercial Lease, the current tenant gives the new tenant the right to occupy the commercial property and take over the lease agreement. This document protects the landlord's interests by ensuring that the new tenant meets the necessary criteria and is financially capable of assuming the obligations of the lease. It establishes a formal agreement that governs the transfer of the lease and helps maintain the stability and integrity of the commercial property.